Shopper turned $20 into $2m thanks to in-store purchase but split decision saw almost half vanish in blink of an eye

A LOTTERY player won a $2 million prize but lost over half of the money due to one decision.

This jackpot winner revealed how he kept this lucky ticket safe until he claimed his cash.

Cristen Breton had purchased a $20 Platinum ticket from a convenience store.

Breton bought the slip from the Fast Stop of East Spencer store in Salisbury, North Carolina, around 40 miles northeast of Charlotte, according to the North Carolina Education Lottery.

“I went into the store and bought three tickets,” Breton said.

“The third one won. I thought it was a joke.”

The lucky winner shared the odd way he kept his ticket safe.

“The cashier told me to go home and not tell anyone,” Breton said.

“I put the ticket in the microwave to protect it from my dog.”

Breton faced a difficult decision on how to claim his money when he visited the state's lottery headquarters.

Players who win large sums of money can claim their money through a lump sum or annuity payments.

Annuity payments split the money up into annual deposits across several decades.

A lump sum would allow players to claim their win in one go, but this option is often subject to high fees and taxes.

Breton's original $2 million win dropped to $1.2 million after he chose the lump sum option.

This amount then dropped to $858,006 after state and federal taxes were withheld.

Despite this, Breton shared what he planned to spend his winnings on.

Lottery winnings: lump sum or annuity?

Players who win big on lottery tickets typically have a choice to make: lump sum or annuity?

The two payout methods can impact how much money you get from your prize.

Annuities pay out slowly in increments, often over 30 years.

Lump sums pay all at once but in a smaller amount, as taxes are withheld in one go. That means 24% of your prize goes to Uncle Sam right away. Many states tax winnings as well.

Annuities can provide winners time to set up the financial infrastructure required to take in a life-changing amount of money, but lump sums have the benefit of being taxed only once.

Inflation is also worth considering when making a choice, as payouts do not adjust with the value of a dollar. That means that you'll likely be getting less valuable money towards the end of an annuity.

Each state and game pays out prizes differently, so it’s best to check with your state’s lottery to confirm payment policies. A financial advisor can also help you weigh the pros and cons of each option.

Experts have varying opinions on whether to take the lump sum or take the annuity.

“The only thing I want to do is help my mom. She deserves this," he said.

The winner also revealed that he would also spend his money on making repairs to his own home.

LOTTO NEWS

Officials in other states have called on their lottery players to check their slips as big wins have gone unclaimed, The U.S. Sun has previously reported.

A Powerball player in Washington has won $1 million but the cash has not been claimed.

This player's lucky numbers were 5, 15, 21, 24, and 43 with a Powerball of 17, and the Power Play was 3.

Their ticket is set to expire on February 20, 2025.